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Galaxy Research Profile picture
@glxyresearch
Sep 11 • 1 tweets • 1 min read • Read on X
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More from @glxyresearch

Galaxy Research Profile picture
Dec 27, 2024
🚨 Crypto Predictions for 2025 from @glxyresearch

Featuring... bitcoin and ether price, ETHBTC, both Dogecoin and D.O.G.E., stablecoins, defi, L2s, policy, VC, and more...

Here are the predictions we just sent to @galaxyhq clients and counterparties 👇
01 - Bitcoin will cross $150k in H1 and test or best $185k in Q4 2025.

A combination of institutional, corporate, and nation state adoption will propel Bitcoin to new heights in 2025. Throughout its existence, Bitcoin has appreciated faster than all other asset classes, particularly the S&P 500 and gold, and that trend will continue in 2025. Bitcoin will also reach 20% of Gold’s market cap. -@intangiblecoinsImage
Image
02 - The U.S. spot Bitcoin ETPs will collectively cross $250bn AUM in 2025.

In 2024, the Bitcoin ETPs collectively took in more than $36bn in net inflows, making them the best ETP launch as a cohort in history. Many of the world’s major hedge funds bought the Bitcoin ETPs, including Millennium, Tudor, and D.E. Shaw, while the State of Wisconsin Investment Board (SWIB) bought a position, according to 13F filings. After just 1 year, the Bitcoin ETPs are only 19% away ($24bn) from flipping the AUM of all the U.S. physical gold ETPs. -@intangiblecoinsImage
Read 26 tweets
Galaxy Research Profile picture
Oct 6, 2023
RWA is one of the fastest growing categories of DeFi. From Treasuries to Private Credit, many different types of RWAs have recently been launched on-chain.

In this report, we give an overview of RWAs and their growth in 2023.

🧵on the main takeaways 👇

galaxy.com/insights/resea…
*Key Takeaways*
- Non-stablecoin RWAs grew by $1.05bn in 2023, $855.7m (82%) of which has come from yield-bearing assets.

- Most of the demand for RWAs is driven by crypto native users.

- Total market cap of RWAs is still 9.6% below the all-time high reached back in April 2022. Image
*The Issuers*

The issuers of RWAs are a mix of traditional financial institutions and onchain native parties.

Tradfi veterans @fti_global and @wisdomtreefunds are leading the charge innovating RWAs. These 2 groups hold more than $1.5tn in AUM combined. Image
Read 9 tweets
Galaxy Research Profile picture
Mar 13, 2023
#Bitcoin didn’t cause the banking crisis. @intangiblecoins just sent a note to our clients and counterparties about the causes of the crisis and what the future holds for cryptocurrency adoption.

Read here 👇
glxy.galaxy.com/galaxy-researc…
Signature Bank director Barney Frank told CNBC today that he thinks “part of what happened was that regulators wanted to send a very strong anti-crypto message” and that Signature Bank officials believed they had stabilized on Sunday and were ready to open “as a going concern.”
The flip-flopping here, and the suggestion that Signature was solvent and taken over for political reasons, is extremely troubling.
Read 12 tweets
Galaxy Research Profile picture
Jan 27, 2023
We compared the risk-adjusted returns of BTC & ETH to a handful of other global assets across asset classes. On almost every time frame, BTC is a top performer and ETH is THE top performer. Here’s the data from each asset’s early-COVID low to present (Jan. 25, 2023). Image
Also in our weekly newsletter, we evaluated all ETH currently staked and unable to withdraw until post-Shanghai. Two-thirds of all staked ETH was locked on-chain at prices equal to or higher than current ETHUSD prices. Image
ETHBTC has performed very differently over the last year’s bear market than it did 2018-2020. YTD BTC has led, but ETHBTC continues to show resilience. Image
Read 4 tweets
Galaxy Research Profile picture
Jan 6, 2022
We sent market commentary to our clients this morning, along with a new report examining last year's massive funding of crypto/blockchain companies by venture capitalists. Read here: conta.cc/3EWN4Ct
#Bitcoin had traded in a tight range between $45.5-48.5k over the last 8 days. Except for 5 days in Dec., BTC has traded in a descending channel since 12/4. 200d MA flipped from support to resistance, and a HNS pattern emerged. All points to $38-41k in the next several days. Image
A price-band analysis of unspent coins suggests #Bitcoin should find support in the $35.5-40k range, with particularly strong support around $39.1-39.8k. Image
Read 7 tweets
Galaxy Research Profile picture
Oct 19, 2021
#Bitcoin and #crypto are surging. Here are 10 Metrics that Show How:

1/ BTC & Inflation Expectations: Since bottoming at $29k, BTC has been on a 100-day run in tandem with inflation expectations. That means it's acting as both a risk-on asset AND a gold proxy. #bullish Image
2/ The Mining Scene:

BTC is made in America. Thanks to both the Chinese crackdown on crypto and friendly state regulation, the majority of BTC's hashrate is now US-based. In turn, the migration West has enabled BTC hashrate to quickly rebound, meaning BTC is as secure as ever ImageImage
3/ ETH Usage Grows:

We live in a multichain world & nothing proves that quite like ETH. With over 60mn non-zero accounts, ETH is the top general-purpose chain by most metrics.

As the blockchain-of-record for tokens, it continues to be the hub for all things DeFi & NFT related ImageImage
Read 11 tweets

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